BrainChip Holdings Limited had been on a rollercoaster this year. Its share price experienced some freefalling moments with a more than a 15% decline in contrast to great times when the price jumped up more than 5% in consecutive days. However, despite tumbling from its peak early this year, the BrainChip share price is still up 60% over the last 12 months. The Australian artificial intelligence (AI) technology company has gained a lot of attention since the company was accepted into the Arm AI Partner Program last month. The global leading AI program will enable BrainChip to access Akida, the world’s first commercial neuromorphic AI accelerator, to foster the development of world-class AI products and applications. Although the company is yet to generate much revenue, that doesn’t stop the investor from associating the company with massive potential in the future. According to the daily chart, the price just managed to break out from the descending trend line since the end of May and an attempt to touch the 20 days-moving average has failed on the first try but is set to the critical watch point for the next couple of days.If the price has overcome the imminent resistance around $1.0, the level of 1.05 will be the next destination. On the flip side, the previous trendline should be able to stop or at least pause the decline at $0.83.
BRN Price at posting:
32.0¢ Sentiment: None Disclosure: Not Held
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